ETHXBT
We see new levelsAt least we took some time with this retrace but we still going up. don't get fooled of shorts, ETH will surely explode to new levels very soon.
Early touch at 38.20% Resistance as $BTCUSD approaches halvingBefore I even looked at this chart, I knew that Bitcoin had risen
because $ETHUSD was trading at around ~$11 (Now ~$12). To
me it looks that people are selling their Ethereum for Bitcoin, and
when bitcoin pulls back people are selling their Bitcoin for
Ethereum. It would not surprise me if we saw a nice spike
in $ETHUSD if Bitcoin pulls back from this rise.
From the Linear regression line, it seems to me that it is too
early for Bitcoin to be able to break the 38.2% resistance line.
I like to believe that this rise is in part being created by
speculation over the upcoming halving. Considering the ETA
is 7-10, it is not surprising that Bitcoin looks ready to test
the 38.2% resistance line by ~7-24. If the trend continues to
keep pace, we should see the slope of the trend line
increase which would suggest a possible breakout attempt
before the halving.
My Recommendation:
If you are sitting on a profitable position right now, consider
allocating some money to $ETHUSD. You will benefit
handsomely if Bitcoin does a pullback.
RIP ETH BullSo, the almost unimaginable did happen. The ETH bull died... R.I.P.
No idea how we get there (the blue path is just a rough idea), but we must expect at least a double bottom in the low 1500s. Til then this is a short-the-bounce scheme.
Depressed Tarding!
ETH: descending wedgeIt should break up close to this point but if it retests the wedge's resistance and bounces then it likely wants to go to make support at 0.011 approx.
Possible Bottom & Breakup >>> Reversalpoint?... (!!!)Looks like we have some a break out (although not 100% clear) on the 4h.
Moreover, the last dip makes up for a possible bottom since it met a) the lower end of bull channel and b) the lower end of linReg(50,200).
It is not a clear hit, what could mean it takes another shot at it, but the bottom might be in here already. Especially, in the light of Bert continuing to be weak as hell, this is a reasonable spot to long...
Happy Tarding!
Resumption of DowntrendIt is highly possible that we have entered our first impulse wave of a five-wave structure composing Wave C down.
I am expecting the completed wave to take a run at the 4H 200 EMA, and possibly confirm a break.
*Note:
- Thick blue trend line follows price from .~.015 area
- The 12/26 EMA cross near the ~.034 top (strong bearish signal)
- (4) and (5) are rough estimates ****
Simple StoryEW aside, we have a 4H 12/26 EMA cross. Very Bearish.
Looks like price may go for 200 EMA.
Closer look at Wave C internalsRed and green a separate counts (Green = Bull || Red = Bear)
We could be in a (4) right now for another push higher before down (Green).
Or we could be beginning a nasty path downward.
Both look viable to my at the moment. Typically looking for a ~38.2% retrace on a w4, but this looks like it may end deeper. Obv possible, but lends skepticism, at least imo.
Basically just some more brainstorming while we wait this bore out.
ETH RecoveryGeneral consensus is ETH going down to 0.02, to add a contrarian view I'll say that we've reached support by hitting a 0.618 retracement from 0.03415 and ETH will go for an ATH.
nice risk-reward idea in ETH based of fractalsETH running on 3 positive fundementals: Okcoin add rumor, coinbase add and the 160 M $ $DAO crowdfunding with $ETH
trade active 0.03035
stop loss very close to position as in the chart.
Increased BTC Weakness Demanding To Reverse ETH PositionSooo, weak... On top, we have another significant spike of "days destroyed" >>>
blockchain.info
While there is certainly a lot of room for speculations about the possible reasons, I do consider it as a huge bearish red flag in any case.
To buy/long ETH and getting rid off Bert before he starts to properly dump is recommended.
Target (BTC): 373.00EUR (ETH): No idea. Just let it run...
Corrective Count - Wave c of BRed count would signify the move has ended.
Green count gives possibility for one more push.
I am tending to think that (3) of c heavily extended, so wave (5) may not have enough strength to push usual wave five targets.
Looking for a clear RSI divergence to confirm the end of the move.
Pink horizontal is ATH. Don't really care about it tbh.
Long Term ETH prediction.Where I think ETH may end up within the next couple of months solely based on the previous pattern and FA of DAO and major news hype.
What else?I like Ethereum, think it will be good, but for now, what has it proven other than getting media traction? Coinbase addition is big though.
Ethereum is running out of 'gas'Short this crap here...
Supply scarcity on the tokens that's locked up have peaked.
daostats.github.io
Take profit at 0.010174, and stop loss at 0.024753 (new highs).
ETH Looking ToppishOpen short upon another full retard spike up to 2840-2870 area or breakdown of 2615 on the 4h.
Target: 2320-2360
Happy Tarding!
